In April, trade increased

11 June 2018 – news release no 68

According to Statistics Estonia, in April 2018, the exports of goods increased by 16% and imports by 13% compared to April 2017. The growth in trade in April of this year was broad-based, with increased exports and imports in both mineral products and mechanical appliances.

In April 2018, exports from Estonia amounted to 1.2 billion euros and imports to Estonia to 1.4 billion euros at current prices. The trade deficit was 171 million euros (in April 2017, it was 185 million euros).

In March, the top destination countries of Estonia’s exports were Finland (16% of Estonia’s total exports), Sweden (12%) and Latvia (10%). Electrical equipment and base metals and articles of base metal were the main commodities exported to Finland; electrical equipment and miscellaneous manufactured articles (prefabricated wood buildings, furniture) were the main commodities exported to Sweden; mineral products (motor spirit, electricity) and transport equipment (motor cars) were the main commodities exported to Latvia. The biggest increase occurred in exports to Finland (up by 34 million euros), Latvia (up by 33 million euros) and the USA (up by 19 million euros). In exports to Finland, the exports of electrical equipment and wood and articles of wood increased. There was also an increase in the exports of mineral products and transport equipment to Latvia and electrical equipment to the USA. The biggest decrease occurred in exports to Sweden (down by 16 million euros).

In April, the biggest share in the exports of goods was held by electrical equipment (15% of the total exports of goods), followed by mineral products (13%), and wood and articles of wood (11%). The greatest increase was in the exports of mineral products (up by 50 million euros), mechanical appliances (up by 25 million euros) and transport equipment (up by 21 million euros). The growth in the exports of mineral products was mainly due to increased export quantities (motor spirit up by 51% and electricity up by 31%), compared to the same period of the previous year.

The share of goods of Estonian origin in total exports was 70% in April 2018. The exports of goods of Estonian origin increased by 14% and re-exports by 23%. Increased exports in the commodity sections of mineral products, wood and articles of wood and mechanical appliances contributed to the increase in the exports of goods of Estonian origin. Among the main destination countries, the exports of goods of Estonian origin had the highest share (over 90%) in exports to the Netherlands, Denmark, Sweden and Norway.

The main countries of consignment in April were Finland (14% share of Estonia’s total imports), Germany (11%) and Sweden (10%). The main commodities imported were: mineral products and metals and articles of base metal from Finland; mechanical appliances and transport equipment from Germany; and electrical equipment and transport equipment from Sweden. The biggest increase occurred in imports from Finland (up by 42 million euros), Belarus (up by 33 million euros, i.e. approximately 8 times) and Sweden (up by 26 million euros). Mineral products (motor spirit, fuel additives) were imported more from Finland and Belarus, electrical equipment from Sweden. Imports decreased the most from Poland (down by 25 million euros) and Turkey (down by 21 million euros), with less transport equipment imported.

The main commodities imported to Estonia were electrical equipment (15% of Estonia’s total imports of goods), mineral products (13%), mechanical appliances and transport equipment (both 11%). The greatest increase was in the imports of mineral products (up by 67 million euros), mechanical appliances (up by 30 million euros) and electrical equipment (up by 21 million euros). Increased imports of mineral products were due to higher import quantities (imports of fuel additives increased by approximately 4 times and imports of motor spirit by 31%), compared to the same period of the previous year. In April, the greatest decrease occurred in the imports of transport equipment (down by 48 million euros).

In April 2018, the foreign trade export volume index increased by 16% and the import volume index by 12% compared to April 2017.

The statistics are based on the questionnaires “Intrastat” and “Exports (sale of fish and crustaceans in foreign waters and ports)”, the due dates of which were, respectively, 14 and 15 May 2018, and on the customs declaration data of the Estonian Tax and Customs Board, which were sent to Statistics Estonia on 20 May 2018. Statistics Estonia published the monthly summary of foreign trade in 15 working days. In the case of the statistical activity “Foreign trade”, the main representative of public interest is the Ministry of Economic Affairs and Communications, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.